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In the classical model, a Common Market is a highly unified and integrated entity, involving intra-community mobility of factors of production and characterized by free internal trade and a common external tariff. The objective of the arrangement is to create a large enough market to allow the benefits of economy of scale, enhance productivity, and increase income. The increase in the efficiency of resource allocation and the protection afforded by the external tariff lead to the emergence of dynamic comparative advantages in many areas of production, and promote community income, savings, and investment and create ever-expanding opportunities for technological innovation and development.

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Future Islamic Common Market under the Organisation of Islamic Cooperation

  • 章节

  • 发表日期：

    2026年

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  • Masudul Alam Choudhury

摘要

In the classical model, a Common Market is a highly unified and integrated entity, involving intra-community mobility of factors of production and characterized by free internal trade and a common external tariff. The objective of the arrangement is to create a large enough market to allow the benefits of economy of scale, enhance productivity, and increase income. The increase in the efficiency of resource allocation and the protection afforded by the external tariff lead to the emergence of dynamic comparative advantages in many areas of production, and promote community income, savings, and investment and create ever-expanding opportunities for technological innovation and development.